iA Global Asset Management Inc. Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

iA Global Asset Management Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,078,194 shares of the information services provider’s stock after purchasing an additional 77,846 shares during the period. Alphabet comprises approximately 2.2% of iA Global Asset Management Inc.’s portfolio, making the stock its 10th biggest holding. iA Global Asset Management Inc.’s holdings in Alphabet were worth $197,762,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $8,232,000. GUNN & Co INVESTMENT MANAGEMENT INC. increased its holdings in shares of Alphabet by 964.3% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 482,698 shares of the information services provider’s stock worth $68,027,000 after purchasing an additional 437,345 shares during the period. Gilbert & Cook Inc. raised its position in shares of Alphabet by 15.5% in the fourth quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after buying an additional 3,924 shares in the last quarter. Alpha Financial Advisors LLC bought a new stake in Alphabet during the fourth quarter valued at $262,000. Finally, Orion Capital Management LLC grew its position in Alphabet by 1.9% during the fourth quarter. Orion Capital Management LLC now owns 25,443 shares of the information services provider’s stock worth $3,586,000 after buying an additional 470 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOOG has been the topic of a number of research analyst reports. Oppenheimer increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $182.86.

Alphabet Trading Up 1.0 %

NASDAQ:GOOG opened at $165.11 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a 50-day moving average price of $175.40 and a 200-day moving average price of $165.01. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the company posted $1.44 EPS. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the sale, the chief executive officer now directly owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Insiders sold a total of 179,065 shares of company stock valued at $31,025,543 over the last three months. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.